Central Bank of India has been declared the successful bidder for assets related to Future Corporate Resources Private Limited. As a result, the bank’s equity stake in Generali Central Life Insurance Company Limited (GCLICL) will increase from 25.18% to 26%, and its stake in Generali Central Insurance Company Limited (GCICL) will rise from 24.91% to 26% upon completion of the acquisition process.
Acquisition Approval
Central Bank of India has been named the successful bidder for assets of Future Corporate Resources Private Limited (FCRPL). This development will lead to an increase in the bank’s equity holdings in two Generali insurance companies.
Impact on Equity Stakes
Following the acquisition, Central Bank of India’s equity stake will increase as follows:
- In Generali Central Life Insurance Company Limited (GCLICL), the stake will increase from 25.18% to 26%.
- In Generali Central Insurance Company Limited (GCICL), the stake will increase from 24.91% to 26%.
Next Steps
The increase in equity stake is contingent upon the completion of the acquisition process. Further details on future developments related to this event will be communicated in due course.
Source: BSE
